"We draw the line against misconduct, not against wealth."
Theodore Roosevelt, 26th President, 1901-1909
MESSAGE OF THE PRESIDENT OF THE UNITED STATES COMMUNICATED TO THE
TWO HOUSES OF CONGRESS
AT THE BEGINNING OF THE SECOND SESSION OF THE FIFTY-SEVENTH CONGRESS
December 2, 1902
In my Message to the present Congress at its first
session I discussed at length the question of the
regulation of those big corporations commonly doing
an interstate business, often with some tendency to
monopoly, which are popularly known as trusts.
Corporations, and especially combinations
of corporations, should be managed under public
regulation. Experience has shown that under our
system of government the necessary supervision can
not be obtained by State action. It must therefore
be achieved by national action. Our aim is not to
do away with corporations; on the contrary, these
big aggregations are an inevitable development of
modern industrialism...
we are not attacking
the corporations, but endeavoring to do away with
any evil in them. We are not hostile to them;
we are merely determined that they shall be so
handled as to subserve the public good. We draw
the line against misconduct, not against wealth.
The capitalist who, alone or in conjunction with his
fellows, performs some great industrial feat by which
he wins money is a welldoer, not a wrongdoer, pro
vided only he works in proper and legitimate lines.
We wish to favor such a man when he does well.
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